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Segments (Tables)
9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Schedule of Information by Reportable Segment

The following table shows information by reportable segment for the three and nine months ended September 30, 2023 and 2022:

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Net Sales

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

276.8

 

 

$

238.5

 

 

$

860.6

 

 

$

680.6

 

EURAF

 

 

150.6

 

 

 

160.3

 

 

 

514.6

 

 

 

548.5

 

MEAP

 

 

93.5

 

 

 

55.9

 

 

 

256.8

 

 

 

181.8

 

Total

 

$

520.9

 

 

$

454.7

 

 

$

1,632.0

 

 

$

1,410.9

 

Segment Operating
   Income (Loss)

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

23.5

 

 

$

22.2

 

 

$

81.6

 

 

$

46.4

 

EURAF

 

 

(7.7

)

 

 

(14.2

)

 

 

2.3

 

 

 

(2.2

)

MEAP

 

 

12.7

 

 

 

7.5

 

 

 

40.3

 

 

 

28.6

 

Total

 

$

28.5

 

 

$

15.5

 

 

$

124.2

 

 

$

72.8

 

Depreciation

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

7.1

 

 

$

8.6

 

 

$

21.7

 

 

$

27.6

 

EURAF

 

 

5.6

 

 

 

4.8

 

 

 

16.4

 

 

 

14.8

 

MEAP

 

 

0.4

 

 

 

0.4

 

 

 

1.6

 

 

 

1.7

 

Corporate

 

 

0.6

 

 

 

0.7

 

 

 

2.1

 

 

 

2.1

 

Total

 

$

13.7

 

 

$

14.5

 

 

$

41.8

 

 

$

46.2

 

Capital Expenditures

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

16.8

 

 

$

8.1

 

 

$

40.2

 

 

$

13.3

 

EURAF

 

 

6.5

 

 

 

6.5

 

 

 

18.4

 

 

 

16.9

 

MEAP

 

 

0.3

 

 

 

0.4

 

 

 

1.3

 

 

 

1.6

 

Corporate

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

23.6

 

 

$

15.0

 

 

$

59.9

 

 

$

31.8

 

Schedule of Reconciliation of the Company's Segment Operating Income

A reconciliation of the Company’s segment operating income to operating income in the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2023 and 2022 are summarized as follows:

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Segment operating income

 

$

28.5

 

 

$

15.5

 

 

$

124.2

 

 

$

72.8

 

Unallocated corporate expenses

 

 

(10.5

)

 

 

(7.9

)

 

 

(41.5

)

 

 

(29.3

)

Unallocated restructuring
   expense

 

 

 

 

 

 

 

 

(0.1

)

 

 

 

Total operating income

 

$

18.0

 

 

$

7.6

 

 

$

82.6

 

 

$

43.5

 

Schedule of Net Sales by Geographic Area

Net sales by geographic area for the three and nine months ended September 30, 2023 and 2022 are summarized as follows:

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

United States

 

$

245.2

 

 

$

218.8

 

 

$

729.9

 

 

$

610.0

 

Europe

 

 

141.0

 

 

 

157.7

 

 

 

493.4

 

 

 

532.8

 

Other

 

 

134.7

 

 

 

78.2

 

 

 

408.7

 

 

 

268.1

 

Total net sales

 

$

520.9

 

 

$

454.7

 

 

$

1,632.0

 

 

$

1,410.9

 

Schedule of Net Sales By Product

New machine and non-new machines sales for the three and nine months ended September 30, 2023 and 2022 are summarized as follows:

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

New machine sales

 

$

366.2

 

 

$

327.1

 

 

$

1,175.1

 

 

$

1,014.8

 

Non-new machine sales

 

 

154.7

 

 

 

127.6

 

 

 

456.9

 

 

 

396.1

 

Total net sales

 

$

520.9

 

 

$

454.7

 

 

$

1,632.0

 

 

$

1,410.9